Entrepreneur Recap – June 2020

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June was a strong month for me. Green cash-flow, the 3rd time in a row. My profits are at an all-time high as well and there’s no sign of a downturn in sight just yet. I’m looking at another strong month of July before I might take it a bit easier again in August and enjoy this beautiful island a bit more, I’m living on right now.
Nonetheless, there’s always some fun you can experience, even if you’re working long hours every day. I got myself something exciting, new and fast to enjoy last month – read more about it in the post.
So, let’s review what was going on in the Dan Schenk Life. Goals, Profits and Losses as usual below.
I hope you enjoy my entrepreneur recap for June. Let me know any questions or comments in the comments section below

Table of contents

Personal Update

June, what happened in June?

Lots of work (again). And even more work after that. What can I say? Running multiple workstreams the same time doesn’t give you a lot of room for breathing. Especially Tritium Growth Partners really brought me to my limits last month and spoiler-alert, it ain’t gonna be any easier this month either.

Luckily, I was also able to enjoy myself a little bit on this magical island, too.
First, I was invited to a real traditional Balinese wedding (no, not my own). So I dressed up in a traditional Balinese outfit and off I went. I didn’t understand what was going on most of the time and neither did anyone understand me. It was a nice experience anyway.

And then, I finally made one of my dreams come true. I got myself a motorbike. I settled with a Yamaha XSR 155. And boy, is this thing fun to drive. 6 gears, 155cc, 134 kg – boom, boom boom. If you are in Bali, hit me up for a road trip adventure.

My monthly goals

On to my monthly goals as outlined in my previous Entrepreneur Recap. This time I finally got a 100% success rate again. Puh, that feels good. But I don’t have much time for celebration, the goals for next month are already waiting to be ticked off. Let’s review last month’s goals first.

1. Trading Profits: £1000 Green tick

Starting with my trading profit target. Totally smashed it out in June. I had my best week so far with almost £750 in profits in a single week and I was also able to hit my monthly profit target of £1000. In the end, I closed the month with profits of £1,253.39. Read all about it in the DSL Trading workstream below.

2. Start documenting trading journey on DSL Green tick

Building on the momentum of DSL Trading, I finally started documenting my journey with weekly market recaps on DSL Trading. Go check it out, there’s a ton of content planned to be published.

Workstream Overview

Here you find an overview of my ongoing workstreams, which are Dan Schenk Life, Investing, DSL Trading, The Navigate Group and Consulting with Tritium Growth Partners. Under Dan Schenk Life I’m grouping all sorts of income-generating streams and not just developments on this very website.

Total Profits (all workstreams, excluding any gains/losses from investments): £7330.48

Dan Schenk Life

dan-schenk-life.com didn’t make any profits or incurred any costs as usual.

Although I’ve been busier than ever publishing content. Here’s a break-down of every post I published in June:

I want to put much more attention to Dan Schenk Life again, however, it just isn’t possible right now with my other workstreams taking up pretty much all of my time. So, I’ll probably see that I can start focussing more on DSL later this year.

Profits and Losses

Revenue: £-

Costs: £-

Profits: £-

Investing

You can see my full monthly portfolio review here. Top-level stats below.

The first half of the year is in the books and well, the second quarter did look a lot better than the first one, didn’t it? I finished last month up way ahead of my benchmarks and hoping to be able to build on that momentum in the second half of the year. Do we see another bull run or is everything falling apart again? We shall see and in any case, you’ll find my monthly recaps here presenting nothing but the facts and stats.

Overall Portfolio Performance

Cumulative Performance Dan Schenk Life Investment Trust - Entrepreneur Recap June 2020

June 2020: +6.1%
YTD 2020: -11%  
All-time: -9%

DSL Trading

DSL Trading was on a roll last month. I smashed through my £1000 monthly profit target and I even skipped trading for an entire week. In the end, I was able to finish up £1253.39.

Daily PnL Day Trading - Entrepreneur Recap - June

Only 3 red days last month, although the last one was pretty big and almost cost me my monthly goal.
Overall I’m very happy with winning 84% of my trades and some solid risk-reward management.

Accumulated PnL Day Trading - Entrepreneur Recap - June

Always good to finish the month on a high, rather than already topping out somewhere in the middle of the month and then failing from there. Although a similar pattern can be seen once again, where I reached my goal already on 12/06 and from then wasn’t able to really add a lot of profit. Ok, I wasn’t trading the 3rd week of the month, but I have to work a little bit more on generating a consistently up-trending PnL curve rather than having a big spike up and flatlining from there.

Total Profits: £1253.39

The Navigate Group

The Navigate Group is now also one year old, but we weren’t able to find a way scaling that business.
Hence, probably the best way forward is to call it a day and shut it down. Unless someone out there has that big idea how to make it happen and wants to jump on board?

Profits and Losses

Total Revenue: £0.66

Cost Breakdown
Hosting: £21.00
Total Costs: £21.00

Total Profits: -£20.34

Consulting with Tritium Growth Partners

Tritium was going strong again last month. We successfully onboarded a new client towards the end of last month and kept on working with our other clients. There was a lot of work to do, to be honest, and sometimes I was struggling with the workload a bit. I’m in Bali after all – however wasn’t really able to enjoy its beauty that much – beaches, jungles, temples, coconuts…
I’m planning with another strong month in July, then maybe taking it a bit easier again in August. We’ll see how things plan out. After all, with a huge amount of work, comes a huge reward.

Turnover: £6,097.43

Expenses: £-

Profits: £6,097.43

Cash Flow Overview

Cash Flow Entrepreneur Recap April 2020 - Entrepreneur Recap - June

Cash Flow is green – the 3rd month in a row. That is a new record right there.
Although it could’ve been higher last month. Well, I guess I was splurging a bit. My new motorbike obviously took a hit on cash flow and I wasn’t looking at spending carefully that much anymore either.
I even spent a bit on fancy clothing, which I counted towards the Travel /Leisure category.
On the other hand, I also upped my spending targets a bit, now looking at a monthly spend of £2,100, not counting funding my trading account or any other business expenses. So, if you take the motorbike out of the equation, I’m actually below that, so all good on the cash flow management I’d say.

Outgoing Cash:

  • Health Insurance + Health Expenses: £156
  • Living Expenses: £2,416
  • Travel / Leisure: £65
  • Trading Account: £321
  • Business Expenses: £485

Incoming Cash:

  • Tritium: £4,700

Total Outgoing: £3,443
Total Incoming: £4,700 
Net Cash Flow: £1,257

Outlook for July 2020

Alright, goals for July below.

Goals July 2020

  1. Trading Profits: £1500
  2. Reduce debt facilities by at least 50%

So, in July I’m having two goals set.
First of all, my trading profit target. This time I’m looking at £1500 in profits.
Considering last month I almost already made that, this should be an easy run. However, with the markets you never know what craziness is going to happen again. Also, my trading strategy is still quite fresh and I’m not 100% confident yet in its long term qualities. So, each month right now is like a new test, if it works or not, if I’m able to bank a profit or not or if I’m blowing my account in the end.
I’ve been trading for almost 3 years now, so I know it’s easier said then done, but I shall update in the next entrepreneur recap as well as my weekly market recaps in the new DSL Trading section.

The second point is about reducing my debt facilities. About one year ago I embarked on my entrepreneurial journey (read my anniversary recap here) and essential not having any income for the first half of that year, obviously comes at an increase in debt. Now, that my cash flow seems steadily green I’m looking to reduce my debt by over 50% in the first round and am probably looking to clear the rest the month afterwards.


I hope you enjoyed reading this Entrepreneur Recap for June 2020. If you did, you can read other recaps and more content in my entrepreneur lifestyle section.

If you are an entrepreneur out there and you are reading this, please contact me over social or drop me a comment in the comments section below, because I would love to catch-up. I’m also planning to interview other entrepreneurs on this channel, so let me know if you would be interested in that.

And as always, if you have any questions, drop me a comment in the comments section below.

Take it easy!

Dan Schenk


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